blocks of letters spelling Risk on top of ruler (Photo: Shutterstock)

The big trend in 401(k) lawsuits in recent years is participants suing plan sponsors and providers over excessive fees. ERISA requires that fiduciaries of a plan research and choose carefully among providers to ensure fees charged aren’t unreasonable or excessive and document that process. Besides following best practices and due diligence in that regard, plan sponsors are also considering fiduciary insurance as a way to mitigate risk.

For more perspective on plan sponsor liability and risk, as well as to learn more about the part fiduciary insurance plays, we turned to Dave Weller, EVP and Professional Lines specialist with Amwins Brokerage and Daniel Aronowitz, Managing Principal, Euclid Specialty Managers to learn more.

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C.J. Marwitz

C.J. Marwitz is a writer and editor.

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